About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

FGMSD-75-50 1 (1975-07-30)

handle is hein.gao/gaobaabag0001 and id is 1 raw text is: UNITED STATES GENEPAL ACCOUNTING OFFICE WASHINGTON, D.C. 20548 LM096956 VW'-ON 09 FINA1I.IAL AND GNRLMANA~I-MENT1 STUDIES D-I15330 Tre Honc,-able James L. Cowen Chairman, Railroad Retirement Board Dear Mr. Cowen: We reviewed the accounting system of the Railroad Retirement Board (RR3) to determine whether it was beinq operated in accord- ance with thE design approved by the C 'mptroller General in 1971. Except as noted in tnic report, tne accounting system was heiig op;rated in accordance wito the system design approved by tne omtroiler General and apcaars to be suisLantially in comp'i- ance with Ln/e principles, stana:'s , Gn related requireisorts prescribed by Lne Comptroller Genera!. Our conciusion is based o, a review, includ,ng limitnd tests of the procedures ased tc control and acco.,nt for revenues drd cot- lections, disbursemenes, oriigations, and prop,.rty; the accounting procedures useu in maintainirg the ger.e ral lfdyer and 'hr sUb;idiary cost ledger; and the effectiveness of the accounting system in pro- , cing financial information useful to rianagemont. A s'-pa-e' review Is oeing ;ade of the manual and automafic JuU)a processing- c;iotrol in tne retiremeat and unemployment benefit pyy:rrts ;ystem and .i I be the suoject. of another report. :IjTER:1AL REVIEW4 OF CC:J TA3L LJFF1C0ERS' FiJTCTiN:S A:.% RIC1?L REP3RTS TO SE XPAN DED The RRB did not provide for in':erna review coverane o.i a cyclical basis of accountable officer unctons and financial re- po'ts. The Chief E -ecu tive '-ff-er i , , - us tna neconcurred in our observations and that the irternal auu!t staff -ii 1 j repare a plan for systematic review of therl. The Congress recognize2 t,.e role and isef, ness of int2rnal auditing in section 113 of tie 3udqet and Accoijut Ling Prys d res Act of 1950 nicn provideL in part, that tne nead of each executive agency shall estaIish aid ,aintain s.stems of accounting and in- ternal cortrol designea to provice effectiie con.ro, over and ac-f.I':2 -A ity for all funds, proper-.,., d otner assets for wriicn I the .)cency is -esponsible, inclujing 1pprcorate internal audit. }i~~ BTAALABLE

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most